WOODLAND HILLS, CA-Wood Partners has held the grand opening ceremony of Alta Warner Apartments, a luxury multifamily property. The $75 million multifamily development began construction in August 2011.
“Our Warner Park development is occurring at an ideal time,” says Brian Hansen, Wood Partners Southern California director of development. “It's an attractive property with an exceptional location.”
Built on four acres in the 20-acre Warner Center Park, the property has 298 one- and two-bedroom units, and is located in a highly walkable neighborhood near the Westfield Promenade and the Woodland Hills Park and Recreation Center, which offers an Olympic-sized swimming pool and a 19-acre park.
"Warner Park is one of the many West Coast communities where we have taken a fresh approach to the design and development process while sourcing new talent in an effort to bring something unique into the market,” says Frank Middleton, Wood Partners western regional director.
In a recent story reported on GlobeSt.com, the Mercer, another Warner Center multifamily property, traded hands for $88 million in a 1031 exchange. The 477-unit property sits on eight acres and had recently undergone $9 in renovations.
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Kelsi Maree Borland
